Company briefs

Australian Infrastructure Fund
(AIX) is selling its 50 per cent stake in the Port of Portland to Palisade Ports for $66.5 million. The deal values the stake at just under the $71.2 million valuation independently attributed to the holding at December 31. The fund completed the investment in Port of Portland in 2000 for $17 million. AIX sold its interests in Port of Geelong and Metro Transport Sydney this year. AIX will receive $100.8 million for the divestments, slightly above the total $100.4 million valuation of the assets at December 31. Staff reporter

Leighton Holdings
has appointed Ernst & Young as an external consultant to review its continuous disclosure practices after being fined $300,000 by the Australian Securities and Investments Commission earlier this year. As well as the fine, imposed in March for failing to advise investors of write-downs sooner, the regulator required Leighton to retain an external consultant to review and monitor its disclosure practices for three years. It also warned the contractor it could take further action against it – including criminal charges – if it does not disclose material information faster in the future. Jenny Wiggins

Aurora Oil
& Gas raised $120 million in new equity, just over half its targeted amount, amid shaky global equity markets. The shares were priced at $3.55, 10¢ lower than originally planned. A further $4 million is likely to be raised by issuing shares to some directors. Executive chairman Jon Stewart said the raising was more than enough to fund development plans, the acquisition of more equity in the Sugarloaf shale project and the takeover offer for Eureka Energy. Angela Macdonald-Smith

QR National
has signed a memorandum of understanding with Brazilian miner Vale to evaluate rail infrastructure and coal haulage services for potential new mines in the Galilee and Bowen basins. QR hopes to build a line from the Galilee Basin to the coast.Jenny Wiggins

Sydney Airport passenger traffic fell 0.1 per cent in April due to a 2.2 per cent decline in domestic passenger numbers. International passenger traffic rose 4.4 per cent, with an increase in the number of travellers from East Asia.Jenny Wiggins

Roc Oil
and its partners have secured $US162 million in financing for initial work on developing their Balai Cluster project in Malaysia. Sumitomo Mitsui Banking, Standard Chartered Bank and CIMB Bank arranged the funding. The project work will cost up to $US250 million and will include making and installing wellhead platforms at the project.